Ore processing

Ore mined in the quarter ended March 31, 2009 was 30,798 tonnes at an average grade of 5.8 g/t (quarter ended March 31, 2008 – 27,373 tonnes at 5.0 g/t). Ore mined in the year ended December 31, 2008 was 162,925 tonnes at an average grade of 5.2 g/t. The 2008 year-end figure compares favorably with that for 2007 – 78,086 tonnes at an average grade of 3.8 g/t.

Ore processed by the Maco plant was 28,068 tonnes at 4.9 g/t in the quarter ended March 31, 2009 (quarter ended March 31, 2008 – 39,472 tonnes at 4.3 g/t). Total ore processed in the year ended December 31, 2008 was 171,760 tonnes at an average grade of 4.6 g/t, which is twice the tonnage processed in 2007 of 84,965 tonnes.

Gold produced in the quarter ended March 31, 2009 was 3,758 ounces (quarter ended March 31, 2008 – 5,030 ounces) and for the year ended December 31, 2008 was 22,449 ounces (year ended December 31, 2007 – 7,266 ounces).  Gold sold in the quarter ended March 31, 2009 was 4,056 ounces (quarter ended March 31, 2008 – gold sold of 3,476 ounces). Gold sold for the year ended December 31, 2008 was 20,063 ounces  (year ended December 31, 2007 – 7,155 ounces).

Maco also recovered a total of 8,244 ounces of silver in the quarter ended March 31, 2009 (quarter ended March 31, 2008 – 17,913 ounces). Total silver recovered in the year ended December 31, 2008 was 60,181 ounces, compared to only a third of this amount in the year ended December 31, 2007 of 21,790 ounces.